How to set up an e-commerce business in Vietnam

E-commerce? 

According to Vietnamese law, there are currently three types of e-commerce activities:

• Online marketplaces (a place where different merchants gather to sell their products);
• Online classifieds (similar to an online marketplace);
• Online auctions. However, in this model, the payments will go directly to the seller. Online retailers include online retailers that sell and store their own products. In fact, some online retailers are also retailers who regularly sell their products online and have switched to this model due to the pandemic.

One thing to keep in mind is that before setting up an e-commerce website, investors should consider what form of payment they will accept. For example, if they want customers to pay directly to them, they must apply for an intermediary license.

The process of registering an e-commerce business in Vietnam.

Step 1: Register for an account to access the online system by providing information such as: the applicant's name, establishment certificate number, business industry, and address of the applicant's head office or contact information. 

Step 2: If you have enough information, the Ministry of Industry and Trade will grant you permission to access the online system. The applicant can now login and register their e-commerce website or app.

Step 3: The Ministry of Industry and Trade will approve the application. If the information is complete, the sender must send the original registration dossier to the Ministry of Industry and Trade. 

Step 4: The Ministry of Industry and Trade will issue an official code to be used to display the registered sign on the e-commerce website or application.

Prepare for changes after the draft is adopted.

While some MNCs already do business across borders and do not have offices in Vietnam, the Vietnamese government is likely to tighten regulations. The draft decree on e-commerce stipulates that e-commerce companies must appoint a legal representative or set up a representative office to operate. 

Hopefully, the information provided by YNN GLOBAL above has helped you understand the basics of establishing e-commerce in Vietnam. We understand the difficulties of investors and provide company establishment services for foreigners in Vietnam. Contact us immediately for advice and support with the problems you are facing.